Stock Market Closes Higher In Choppy Trade; IT, Auto Stocks Lead Gains

Sensex and Nifty closed higher amid volatility, driven by gains in IT and auto stocks, while mid and smallcap indices witnessed profit-taking

The Nifty Midcap 100 shed 0.49 per cent to end at 59,388.15, and the Nifty Smallcap 100 declined 0.53 per cent to 18,798.75, highlighting continued profit-taking in the broader market

Source : ABPLIVE AI

The Indian equity benchmarks ended Wednesday’s session with modest gains amid volatility, buoyed by buying in select large-cap sectors like IT and auto, even as broader markets witnessed selling pressure. Sensex advanced by 123.42 points or 0.15 per cent, closing at 82,515.14, while the Nifty 50 added 37.15 points to settle at 25,141.40. Throughout the day, both indices oscillated between gains and losses, reflecting a cautious tone ahead of key global economic data.

In contrast, midcap and smallcap stocks faced headwinds. The Nifty Midcap 100 shed 0.49 per cent to end at 59,388.15, and the Nifty Smallcap 100 declined 0.53 per cent to 18,798.75, highlighting continued profit-taking in the broader market.

Sector Watch: IT, Auto Shine While PSU Banks Lag

Among sectors, IT, auto, pharma, realty, and energy stocks outperformed, driving gains in frontline indices. On the downside, PSU banks, financial services, FMCG, metals, and media stocks weighed on sentiment.

Prominent gainers included HCL Technologies, Infosys, Tech Mahindra, Tata Motors, Bajaj Finserv, and Titan. Eternal (Zomato) and ICICI Bank also contributed positively. Meanwhile, Power Grid, IndusInd Bank, Nestle, HUL, and HDFC Bank were among the notable laggards.

Expert Views: Technical Outlook And Market Sentiment

Market experts remain cautiously optimistic. Rupak De of LKP Securities noted, “Crucial support is placed at 24,850. As long as the index holds above this level, the trend is likely to remain positive, with potential to move towards 25,350 in the short term.”

Analysts pointed out that the ongoing profit-booking in mid and small caps is a result of stretched domestic valuations. However, large-cap strength is providing support, especially as institutional investors focus on fundamentally strong companies with stable earnings.

According to Vinod Nair, Head of Research at Geojit Financial Services, “The auto and IT sectors remain in focus — auto stocks are gaining on improved monthly sales, while IT are benefiting from optimism around a potential US-China trade resolution.”

Rupee Strengthens Slightly; Awaiting US Inflation Data

The Indian rupee appreciated by 0.10 to settle at 85.44 against the US dollar, supported by consistent FII and DII inflows. Analysts expect the currency to trade within a range of 85.25 to 85.85, even as the dollar index remains steady. Investors are now turning their attention to upcoming macroeconomic data, particularly US inflation figures, which could provide cues on the global interest rate outlook. “US inflation data is expected to show a slight uptick, driven by recent tariff increases,” added Nair.